Both TFSAs and RRSPs can be significant savings vehicles for your clients. We've put together an article to help your clients easily understand the differences between them – with one section focussing on differences in deposits and one focussing on differences in withdrawals.
The deposit section focuses on:
• How much contribution room is available each year
• How carry forward works for TFSAs and RRSPs
• Tax deductibility of contributions
• Tax treatment of growth
The withdrawal section focusses on:
• Conversion requirements
• Tax treatment of withdrawals
• Impact of withdrawals on government benefits
• Impact of withdrawals on contribution room
http://chartwellfinancial.com/wp-content/uploads/2021/01/TFSA_vs_RRSP_2021_Featured_Image.png281500Chartwell Financial Grouphttp://chartwellfinancial.com/wp-content/uploads/2018/05/chartwell_New_LOGO-300x189.jpgChartwell Financial Group2021-01-21 14:01:102021-01-21 23:42:10TFSA vs RRSP – What you need to know to make the most of them in 2021
We’ve put together a financial calendar for 2021. It contains all the dates you need to know to make the most of your government benefits and investment options. Whether you want to bookmark this or print it out and post it somewhere prominent, you’ll have everything you need to know in one place!
For the 2020 tax year, the Government of Canada introduced a temporary flat rate method to allow Canadians working from home this year due to Covid-19 to claim expenses of up to $400.
http://chartwellfinancial.com/wp-content/uploads/2020/12/Up-to-400-for-home-office-expenses.png5631000Chartwell Financial Grouphttp://chartwellfinancial.com/wp-content/uploads/2018/05/chartwell_New_LOGO-300x189.jpgChartwell Financial Group2020-12-29 11:47:492020-12-29 21:36:19Government of Canada to allow up to $400 for home office expenses
Insurance products, including segregated fund policies and health insurance are offered through Chartwell Financial, and Investment Representatives Steve Cameron, Gail Winzoski, Rochelle Noren, Terry Sorensen and Bharpur Singh Gill offer mutual funds through Quadrus Investment Services Ltd.
Quadrus Investment Services Ltd. and design are trademarks of Quadrus Investment Services Ltd. Used with permission.